Central Bank Governor Frank Guerrero and Superintendent of Banks Alberto Atallah jointly warned in a press conference that any institution or person that spreads false rumors that taint the image of any bank will be fined. They referred to the 80th article of the Monetary Law, which deems such circulation of rumors a crime. The law specifies that any institution or person that voluntarily and knowingly defames a national financial institution by propagating aspersions regarding its lack of liquidity could face 3 to 10 years in prison and fines of RD$500,000 to RD$2.5 million. The warning is an attempt to put an end to the rumors that have been circulating recently. The monetary authorities defended the solidity of Dominican banks.
